There is a perception about Wonder Woman's classic vehicle. Some fans say "it's not cool", "corny", or "it's a stupid idea." I don't agree with that. I have been reading comics for many years like most of you and I have noticed that a superhero's craft is only as cool or as corny as how the writers handle it.
When Perez rebooted Wonder Woman, he got rid of the Invisible Plane in favor of Diana's power upgrade from the old "gliding on the air currents" to actual "Power of flight". I must admit that I love Diana's power of flight and prefer her portrayed with this ability as opposed to the Golden Age version.
But when John Byrne took over the WW comic in 1995, he brought back the Invisible Jet and finally portrayed it more effectively. No longer a "Transparent Plane" as the chronicles once portrayed it in the 1940's, the plane is now a Jet that can morph from a transparent craft to to a true Invisible Jet with stealth capabilities and the ability to render both itself and ITS OCCUPANTS invisible.
The Origin of the Modern Age version of the Invisible Jet was chronicled during John Byrne's run of Wonder Woman v2,. Detailed information was chronicled in the WONDER WOMAN SECRET FILES# 1
The Jet is originally a "morphing crystal" that was developed scientifically by an alien race called the "Lansinarians".
The Lansinarians were a blind alien race and could not react quickly enough to changes in their environment. So developed a life support device- the morphing crystal that catered to their needs. The crystal is a shape-changing device that can take many forms.
Hippolyta, used the Invisible Plane during her time-travelling stint to 1942. To adjust to the era, she wills the device to assume the form of a prop-driven plane and it takes on the appearance of the original Invisible Plane of the earlier comics. . The Lansinarian technology of the Invisible Plane was later utilized to rebuild the Amazons' city of Themyscira after it was destroyed in the Imperiex War.
Specifications
* It was created to attune itself to its user and its environment. The vessel responds appropriately and can take the form of any vehicle of earth, water and beyond (A Sub-marine or Rocketship). This amazing craft was given as a gift by the Lansinarians as a gift to Wonder Woman who saved them.
* It has the power to be undetectable by radar or the human eye and the ability to shift from its crystal, "transparent mode" to complete invisibility rendering BOTH itself and its occupants truly invisible.
* The Invisible Jet propels itself by harnessing graviton particles. It is in this fashion also that it shields its passengers from the forces of sudden acceleration.
* In outer space: The Craft can extrude a portion of itself around Wonder Woman. Without taking in additional air supply, it can process one's own exhaled oxygen to allow breating for 20 minutes. It can sense Wonder Woman's thoughts and will respond to her needs.
* Arsenal: The Invisible Jet can shape projectile weapons out of its own substance but doing so depletes the amount of material in the vessel. When such depletion occurs, the craft can regenerate itself slowly. This function is to be avoided and used only when absolutely necessary as a last resort.
* Although Wonder Woman possesses the power of flight, the Invisible Jet is very useful when she needs to transport a larger group of people or when she needs to use stealth on a mission.
UPDATE: The Invisible Jet, in recent years, has lost it's morphing ability and is permanently in its current form- as a Jet. During an adventure where Wonder Woman needed to stop a tidal wave, she used the Jet to try and disperse the waves but because of the sheer force and power od the waves, the Lansianrian jet's capability to be autonomous and shape-shifting capabilities were destroyed.